Exhibit 4.6


THOMMESSEN


                                 ADDENDUM NO. 1
                                       to

                                 USD 300,000,000
                       REVOLVING CREDIT FACILITY AGREEMENT

                                       for

                     Nordic American Tanker Shipping Limited
                             as Borrower provided by

                           The Financial Institutions
                              listed in Schedule 1
                                   as Lenders
                                      with

                                DnB NOR Bank ASA
                            as Mandated Lead Arranger
                                       and

                                DnB NOR Bank ASA
                                    as Agent
<PAGE>

THIS ADDENDUM NO. 1 (the "Addendum") is dated 21, September 2006 and made
between:

(1)  Nordic American Tanker Shipping Limited,  of LOM Building,  27 Reid Street,
     Hamilton HM 11, Bermuda, as borrower (the "Borrower");

(2)  The banks and  financial  institutions  listed in  Schedule  2, as original
     lenders (together, the "Lenders");

(3)  DnB NOR Bank ASA of Stranden 21, N-0250 Oslo, Norway,  organisation  number
     984 851 006, as mandated lead arranger (the "Arranger"); and

(4)  DnB NOR Bank ASA of Stranden 21, N-0250 Oslo, Norway,  organisation  number
     984 851 006, as facility agent (the "Agent").

WHEREAS:

(A)  This  Addendum is  supplemental  to the USD  300,000,000  Revolving  Credit
     Facility  Agreement  dated 14  September  2005 (the  "Agreement")  and made
     between the Borrower,  the Lenders,  the Arranger and the Agent relating to
     certain  revolving  credit  facilities  for  an  aggregate  amount  of  USD
     300,000,000;

(B)  The  Borrower  has  requested  and the Lenders  have agreed to increase the
     amount of the Total Commitment from USD 300,000,000 to USD 500,000,000; and

(C)  the Parties have agreed to amend certain of the provisions of the Agreement
     as set out in this Addendum.

NOW IT IS HEREBY AGREED as follows:

1         DEFINITIONS AND INTERPRETATION

1.1       Defined expressions

In this Addendum:

"Effective  Date"  means 2 October  2006 (or such later date as  approved by the
Agent (on behalf of the Finance Parties)).

In addition,  words and  expressions  defined in the Agreement  shall unless the
context  otherwise  requires or unless otherwise  defined herein,  have the same
meaning when used in this Addendum (including the recitals).

1.2       References to this Agreement

References in the Agreement to "this Agreement" shall, with effect from the date
hereof be references to the Agreement as amended by this Addendum.

1.3       Construction

In this Addendum, unless the context otherwise requires:

     a)   words  denoting the singular  number shall include the plural and vice
          versa;

     b)   references to Clauses and Schedules are references,  respectively,  to
          the Clauses and Schedules of this Addendum;

     c)   references  to a provision of law is a reference to that  provision as
          it may be amended or re-enacted,  and to any  regulations  made by the
          appropriate authority pursuant to such law; and

     d)   clause  headings are inserted for  convenience  of reference  only and
          shall be ignored in the interpretation of this Addendum.


2         CONDITIONS PRECEDENT

The provisions of Clause 3 (Amendments to the Agreement) shall be effective only
if, not later than 10:00 hours (Oslo  time) three (3)  Business  Days before the
Effective  Date,  the Agent has received all the  documents  and other  evidence
listed in Schedule i (Conditions  Precedent) in form and substance  satisfactory
to the Agent.  The Agent shall notify the Borrower and the Lenders promptly upon
being so satisfied.

3         AMENDMENTS TO THE AGREEMENT

3.1       General

The  Agreement  shall,  with effect from the  Effective  Date be (and is hereby)
amended and restated as follows and will continue to be binding upon each of the
Parties thereto in accordance with its terms as so amended.

3.2       Amendments to Clause 1.1 (Definitions) of the Agreement

(i)       The definitions of  the following terms in Clause 1.1 (Definitions) of
          the  Agreement  shall be  deleted  and  replaced  with  the  following
          definitions:

          ""Existing Vessels" means:

          a)   MT "Nordic  Hawk o, a 151,458  dwt suezmax  vessel  built In 1997
               with IMO number  9131149  owned by and  registered in the name of
               the Borrower in the Bahamas Ship Registry;

          b)   MT "Nordic  Hunter' a 151,458  dwt suezmax  vessel  built In 1997
               with IMO number  9131151  owned by and  registered in the name of
               the Borrower In the Bahamas Ship Registry;

          c)   MT "Gulf  Scandic",  a 151,458 dwt suezmax  vessel  built in 1997
               with IMO number  9131137,  owned by and registered In the name of
               the Borrower in the Isle of Man Ship Registry;

          d)   MT "Nordic  Fighter",  a 153,181 dwt suezmax vessel built In 1998
               with IMO number  9157715,  owned by and registered In the name of
               the Borrower in the Norwegian International Ship Registry;

          e)   MT "Nordic  Freedom".  a 159,500 dwt suezmax vessel built in 2005
               with IMO number  9288887  owned by and  registered In the name of
               the Borrower in the Bahamas Ship Registry;

          f)   MT "Nordic  Voyager",  a 149,591 dwt suezmax vessel built in 1997
               with IMO number  9102930  owned by and  registered in the name of
               the Borrower in the Norwegian International Ship Registry;

          g)   MT "Nordic Discovery'. a 153,181 dwt suezmax vessel built in 1998
               with IMO number  9157727  owned by and  registered in the name of
               the Borrower in the Norwegian International Ship Registry;

          h)   MT "Nordic  Saturn,  a 157,332 dwt suezmax  vessel  built in 1998
               with IMO number  9167198  owned by and  registered in the name of
               the Borrower in the Marshall Islands Ship Registry; and

          i)   MT "Nordic  Jupiter",  a 157,332 dtw suezmax vessel built in 1998
               with IMO number9160201 owned by and registered in the name of the
               Borrower In the Marshall Islands Ship Registry.

          "New  Vessels"  means (1) any modem  crude oil aframax  tanker  and/or
          suezmax  tanker all of double hull and not to be build before 1996 and
          (ii) such  other  double  hull  crude oil  tanker  vessels as shall be
          approved  from time to time by all of the  Lenders,  purchased  by the
          Borrower  after the date of this Agreement and which has been approved
          by the Lenders to be entered into the Security Pool (such approval not
          to be unreasonably withheld).

          "Total  Commitments" means the aggregate of the Lenders'  Commitments,
          being USD 500,000,000 at the Effective Date."

(ii)      The  following  new  definitions  shall  be  inserted  in  Clause  1.1
          (Definitions) of the Agreement:

          "Effective  Date" means 2 October  2006 or such later date as approved
          by the Agent (on behalf of the Finance Parties)."


3.3       Amendments to Schedule 1 (Lenders and commitments) of the Agreement

Schedule 1 (Lenders  and  commitments)  to the  Agreement  shall be deleted  and
replaced in its entirety by Schedule 2 to this Addendum.

3.4       Amendment to Schedule 3 (Form of Drawdown Notice), Schedule 4 (Form of
          Compliance Certificate), Schedule 5 (Form of Transfer Certificate)

The  heading  in  Schedule  3 (Form of  Drawdown  Notice),  Schedule  4 (Form of
Compliance  Certificate) and Schedule 5 (Form of Transfer  Certificate) shall be
amended to read as follows:

          "Nordic American Tanker Shipping  Limited - USD 500,000,000  Revolving
          Credit  Facility  Agreement  dated 14 September 2005 (as amended) (the
          "Agreement").


4        AMENDMENTS TO THE SECURITY DOCUMENTS

The Security  Documents  shall be amended (in such form as approved by the Agent
(on behalf of the  Lenders))  and/or new Security  Documents  shall be issued to
ensure that the increased amount of the Total Commitments shall be secured under
such Security Documents.


5         FEES

5.1       Participation fee

The  Borrower  shall pay a  participation  fee of 0.25% on the  increase  in the
amount  of the Total  Commitments  (being  USD  200,000,000)  to the Agent  (for
distribution to the Lenders), payable at the date of this Addendum.

5.2       Other fees

The Borrower  shall pay such other fees in the amount and at the times as agreed
in the Fee Letter.


6         CONTINUED FORCE AND EFFECT

The provisions of the Agreement and the other Finance  Documents shall,  save as
amended by this Addendum,  continue In full force and effect between the Parties
and the  Agreement  and  this  Addendum  shall  be  read  and  construed  as one
instrument.


7         GOVERNING LAW AND ENFORCEMENT

7.1       Governing law

This Addendum shall be governed by Norwegian law.

7.2       Jurisdiction

     a)   For the benefit of each Finance  Party,  the Borrower  agrees that the
          courts of Oslo,  Norway,  have  jurisdiction  to settle  any  disputes
          arising out of or In connection with the Finance Documents including a
          dispute  regarding  the  existence,  validity or  termination  of this
          Addendum,  and the Borrower  accordingly  submits to the non-exclusive
          jurisdiction of the Oslo District Court (Oslo tlngrett).

     b)   Nothing  In this  Clause  7.2 shall  limit  the  right of the  Finance
          Parties to  commence  proceedings  against  the  Borrower In any other
          court of competent  jurisdiction.  To the extent permitted by law, the
          Finance  Parties  may take  concurrent  proceedings  in any  number of
          jurisdictions.

7.3      Service of process

Without prejudice to any other mode of service, the Borrower:

     a)   irrevocably  appoints Scandic American Shipping Ltd. (European Branch)
          of P.O. Box 56, N3201  Sandefjord,  Norway as its agent for service of
          process in  relation to any  proceedings  before  Norwegian  courts In
          connection with any Finance Document; and

     b)   agrees that  failure by Its process  agent to notify It of the process
          will not invalidate the proceedings concerned.
<PAGE>

                                   SCHEDULE 1
                              CONDITIONS PRECEDENT


1    CORPORATE DOCUMENTS - BORROWER

a)   Secretary's  Certificate  (notarised and legalised)  confirming  inter alia
     that the  Certificate of  Incorporation  and the Memorandum and Articles of
     Association  of the  Borrower as  presented  to the Agent (on behalf of the
     Finance Parties) in relation to the Agreement,  are still in full force and
     effect and no amendments have been made thereto;

b)   Updated Good Standing Certificate;

c)   Resolutions  passed  at a board  meeting  of the  Borrower  evidencing  the
     approval  of the  terms  of,  and the  transactions  contemplated  by,  the
     Addendum and the  authorisation  of its appropriate  officer or officers or
     other  representatives  to execute  the  Addendum  and any other  documents
     necessary for the transactions contemplated by the Addendum, on its behalf;
     and

d)   Power of Attorney (notarised and legalised if requested by the Agent).


2    AUTHORISATIONS

a)   All approvals,  authorisations  and consents  required by any government or
     other   authorities  for  the  Borrower  to  enter  into  and  perform  its
     obligations under this Addendum.


3    FINANCE DOCUMENTS

a)   The Addendum.

b)   Amendments  to the  Mortgages  for the  Existing  Vessels  (save  for "Gulf
     Scandic"), "Nordic Saturn" and "Nordic Jupiter";

c)   Mortgage In respect of "Gulf Scandic"; and

d)   Amendment to the Assignment Agreement.


4    MISCELLANEOUS

a)   Evidence  that all fees referred to in 4 (Fees) have or will be paid on its
     due date;

b)   A Compliance Certificate confirming that the Borrower is in compliance with
     the financial  covenants as set out in Clause 20  (Financial  covenants) of
     the Agreement;

c)   Appointment of Scandic American Shipping Ltd. and the acceptance by Scandic
     American Shipping Ltd. (European Branch) as the Borrower's process agent in
     Norway under the Addendum;

d)   The  letter  regarding   effective  interest  duly  counter-signed  by  the
     Borrower; and

e)   Any other documents as reasonably requested by the Agent.


5    LEGAL OPINIONS

a)   A legal opinion as regards Bermuda law matters issued by Appleby Spurting &
     Hunter;

b)   A legal  opinion as regards  Norwegian  law  matters  Issued by  Thommessen
     Krefting Greve Lund AS;

c)   A legal opinion as regards Marshall Islands law matters issued by Holland &
     Knight LLP;

d)   A legal opinion as regards  Bahamas law matters  issued by Higgs & Johnson;
     and

e)   A legal  opinion as regards  Isle of Man law  matters  issued by  Dickinson
     Cruinckshank.
<PAGE>

                                   SCHEDULE 2
                             LENDERS AND COMMITMENTS

          Lender:                         Commitment               %
          ---------------------         ---------------        -------
          DnB NOR Bank ASA              USD 125,000,000         25.00%
          Nordea Bank Norge ASA         USD 125,000,000         25.00%
          Fokus Bank ASA                USD 125,000,000         25.00%
          Scotiabank Europe PLC         USD 125,000,000         25.00%
          Total:                        USD 500,000,000        100.00%
<PAGE>

                                   SIGNATORIES

Borrower:
Nordic American Tanker Shipping Limited

By: /s/ Turid M. Sorensen
   ----------------------
Name:  Turid M. Sorensen
Title: CFO



Lenders:
DnB NOR Bank ASA

By: /s/ Siri Wennevik
   ----------------------
Name:  Siri Wennevik
Title: Attorney-in-Fact


Nordea Bank Norge ASA

By: /s/ Siri Wennevik
   ----------------------
Name:  Siri Wennevik
Title: Attorney-in-Fact


Fokus Bank ASA

By: /s/ Siri Wennevik
   ----------------------
Name:  Siri Wennevik
Title: Attorney-in-Fact


Scotiabank Europe PLC

By: /s/ Siri Wennevik
   ----------------------
Name:  Siri Wennevik
Title: Attorney-in-Fact



Agent:
DnB NOR Bank ASA

By: /s/ Siri Wennevik
   ----------------------
Name:  Siri Wennevik
Title: Attorney-in-Fact



Arranger:
DnB NOR Bank ASA

By: /s/ Siri Wennevik
   ----------------------
Name:  Siri Wennevik
Title: Attorney-in-Fact